EOG Resources Inc (EOG) Shares Bought by Welch & Forbes LLC

Welch & Forbes LLC boosted its holdings in EOG Resources Inc (NYSE:EOG) by 4.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 69,139 shares of the energy exploration company’s stock after purchasing an additional 2,846 shares during the quarter. Welch & Forbes LLC’s holdings in EOG Resources were worth $8,820,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Culbertson A N & Co. Inc. increased its holdings in shares of EOG Resources by 1.1% during the second quarter. Culbertson A N & Co. Inc. now owns 38,399 shares of the energy exploration company’s stock valued at $4,778,000 after acquiring an additional 415 shares in the last quarter. Creative Planning increased its holdings in shares of EOG Resources by 1.0% during the second quarter. Creative Planning now owns 42,007 shares of the energy exploration company’s stock valued at $5,227,000 after acquiring an additional 417 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its holdings in shares of EOG Resources by 1.8% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 24,211 shares of the energy exploration company’s stock valued at $2,546,000 after acquiring an additional 423 shares in the last quarter. Bainco International Investors increased its holdings in shares of EOG Resources by 0.5% during the second quarter. Bainco International Investors now owns 84,702 shares of the energy exploration company’s stock valued at $10,539,000 after acquiring an additional 438 shares in the last quarter. Finally, Parkwood LLC increased its holdings in shares of EOG Resources by 8.3% during the second quarter. Parkwood LLC now owns 5,747 shares of the energy exploration company’s stock valued at $715,000 after acquiring an additional 438 shares in the last quarter. Institutional investors and hedge funds own 86.16% of the company’s stock.

Shares of NYSE:EOG opened at $120.14 on Thursday. The company has a market cap of $73.89 billion, a P/E ratio of 107.27, a P/E/G ratio of 1.87 and a beta of 1.00. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.83 and a current ratio of 0.98. EOG Resources Inc has a 12-month low of $95.36 and a 12-month high of $133.53.

EOG Resources (NYSE:EOG) last posted its quarterly earnings data on Thursday, August 2nd. The energy exploration company reported $1.37 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $0.13. EOG Resources had a return on equity of 12.38% and a net margin of 27.81%. The business had revenue of $4.24 billion for the quarter, compared to analysts’ expectations of $3.95 billion. During the same quarter in the previous year, the firm earned $0.08 earnings per share. The business’s revenue was up 62.2% on a year-over-year basis. As a group, research analysts predict that EOG Resources Inc will post 5.68 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 31st. Shareholders of record on Wednesday, October 17th will be given a $0.22 dividend. The ex-dividend date is Tuesday, October 16th. This represents a $0.88 annualized dividend and a yield of 0.73%. This is a boost from EOG Resources’s previous quarterly dividend of $0.19. EOG Resources’s payout ratio is currently 66.07%.

In other EOG Resources news, EVP David W. Trice sold 2,489 shares of the business’s stock in a transaction on Friday, September 28th. The stock was sold at an average price of $127.44, for a total value of $317,198.16. Following the transaction, the executive vice president now owns 74,807 shares of the company’s stock, valued at $9,533,404.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO William R. Thomas sold 57,065 shares of the business’s stock in a transaction on Friday, August 10th. The stock was sold at an average price of $122.36, for a total value of $6,982,473.40. Following the completion of the transaction, the chief executive officer now directly owns 755,519 shares in the company, valued at approximately $92,445,304.84. The disclosure for this sale can be found here. In the last three months, insiders sold 61,346 shares of company stock worth $7,508,977. Insiders own 0.51% of the company’s stock.

EOG has been the subject of several recent research reports. Societe Generale upgraded EOG Resources from a “hold” rating to a “buy” rating in a report on Wednesday, June 27th. TD Securities assumed coverage on EOG Resources in a research report on Thursday, July 5th. They set a “buy” rating and a $155.00 target price on the stock. Zacks Investment Research raised EOG Resources from a “hold” rating to a “strong-buy” rating and set a $142.00 target price on the stock in a research report on Monday, July 9th. Morgan Stanley assumed coverage on EOG Resources in a research report on Thursday, July 12th. They set an “equal weight” rating and a $128.00 target price on the stock. Finally, Jefferies Financial Group set a $122.00 target price on EOG Resources and gave the company a “hold” rating in a research report on Wednesday, July 18th. Eight research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. EOG Resources currently has a consensus rating of “Buy” and a consensus price target of $137.24.

About EOG Resources

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil and natural gas. The company's principal producing areas are located in New Mexico, North Dakota, Texas, Utah, and Wyoming in the United States; and the Republic of Trinidad and Tobago, the United Kingdom, the People's Republic of China, and Canada.

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Institutional Ownership by Quarter for EOG Resources (NYSE:EOG)

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